Asia bonds need a fix? Turn to floaters

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By Addison Gong
09 May 2018

ICBC Financial Leasing broke the silence in Asia’s offshore bond market on Tuesday, returning with a popular $1.5bn dual-tranche floating rate transaction that served as a reminder of just how enthusiastic investors can get when there is the opportunity to hedge away interest risk.

The last time ICBC Leasing came to the offshore market was with five and 10 year fixed rate notes in late 2017, raising $700m and $250m, respectively. But in March, when the leasing firm held a non-deal roadshow, the tide was already starting to turn towards floating ...

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